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Reconsideration of Value Request
In order to facilitate the Reconsideration of Value process, please use this form when appealing an appraisal. A response to the ROV from the appraiser is typically provided within three working days.
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Things to Consider
To ensure the best possible response from the appraiser, we request that you reduce your number of sales for the appraiser's reconsideration to only five. To help you narrow your selection, here is a list of comps to avoid:
Comps that are already in the report.
Comps much larger or much smaller in the hope of developing a price-per-sq. ft.- defense -- appraisers need to stay within a 20% size range unless no other comps exist.
Comps that did not yet close as of the date of inspection - an appraiser cannot use sales after this date.
Comps that are outside of the market area - the appraiser cannot overlook homes in the immediate market and will only cross over to other similar markets when no sales are available within.
Comps that are all newer and fully remodeled when the subject property is not and there are sales of similar condition available.
Comps that all need upward adjustments (meaning they are all inferior in some way), as investors will not accept an appraisal in which there are all upward adjustments.
Please consider this information when selecting your best five sales and take a minute to explain why you believe each of your five sales are a better representation of the subject than what is already in the report.
Additional Guidelines
Do not offer opinions about the report, unless corrections and/or omissions need to be made.
Please avoid giving value conclusions.
Please do not mention a final market value or a range of values you desire.
AVMs or other appraisals will not be submitted to the appraiser to compare or comment on.
You may be asked to redraft this request, if guidelines are not followed.
